Why the McClellan Oscillator?

11/24/2008 9:50 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

The McClellan Oscillator is a longer-term look at the NYSE A/D numbers. When it is moving lower, the market's trend is down, which has been the case for most of the year. I have also added a 21-day WMA to help identify the trend. The Oscillator is below its WMA, but is above the most recent low. If it can turn up, it would be a hopeful sign.

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